State Bank of Pakistan left its policy rate unchanged at 11.5%.

Nomura economists say that despite a May rise in inflation, a Reserve Bank of India (RBI) rate increase is not currently on the table. With the Strait of Hormuz closed for three months and the government permitting gasoline and diesel price increases since mid‑May, May CPI will be the key test of pass‑through; the core basket shows some price pressures but most subcomponents have not rebounded, pointing to weak consumer demand. Nomura expects the RBI to keep policy rates unchanged for the remainder of the year.

An Indian trade official said India will import more liquefied petroleum gas (LPG) from the United States this year and expects April-May import volumes to increase.